UAE announces monthly allowance of 50% of basic salary for imams, muezzins
Abu Dhabi, UAE - United Arab Emirates has announced a provision of a monthly financial allowance equivalent to 50 percent...
Business
Ashok Leyland bags 1,400-bus order
This is the company's biggest UAE order for school buses.
- The 55-seater Falcon bus and 32-seater Oyster bus - will be supplied from Ashok Leyland’s $50 million manufacturing facility in Ras Al Khaimah.
- Most of the supplies will be made to Emirates Transport and STS Group, a statement from the company said.
Arts & Culture
Qatar’s Museum of Islamic Art to reopen on October 5
One of the world's premier institutions of Islamic art, the MIA will re-open in time for the influx of visitors...
- One of the world's premier institutions of Islamic art, the MIA will re-open in time for the influx of visitors to Doha for the FIFA World Cup Qatar 2022
- More than 1,000 objects many newly conserved or acquired will be displayed in the museum's permanent galleries
Economy
Palestinian economy facing formidable challenges: IMF team
The fiscal situation, high political, security and social tensions, rising inflation, movement and access restrictions and an unfinished structural agenda...
- The Palestinian Authority and Israel disagree on the amounts of revenue that the latter should transfer to the former, the statement said.
- The IMF team said that overcoming these challenges will require ambitious reforms spanning several years of cooperation between PA, Israel and donors.
Economy
CBUAE imposes sanctions on ‘exchange house’ for violations
The Central Bank of the UAE (CBUAE) has imposed sanctions on the owner and general manager of an exchange house...
- According to a CBUAE statement, the sanctions came as a result of the examination conducted by it, revealing that the exchange house had rented out its license
- The CBUAE also prohibited the general manager from undertaking any designated function at any licensed financial institution in the country
Business
ADNOC awards $1.83 billion framework agreements for drilling-related services
The awards cover ADNOC’s onshore and offshore fields and will run for five years with an option for a further...
- The awards cover ADNOC’s onshore and offshore fields and will run for five years with an option for a further two years
- The framework agreement awards will support ADNOC’s requirement to drill thousands of new wells to expand its production capacity
Business
Evorra secures extra $1m for data marketing at scale
Evorra CEO Aaron Ritoper said that the company has developed with regular input from a community of brands which believe...
- Evorra CEO Aaron Ritoper said that the company has developed with regular input from a community of brands which believe in the power of a decentralised data service
- Boston-based York IE is set to become lead investor to help the SaaS marketplace company turn marketers into data marketers
Business
Ajlan signs deals worth $7bn
Its collaboration with Malaysia will be in key sectors.
- The deals aim to develop effective programs to promote collaboration between the two countries to invest in key sectors: industrial manufacturing, healthcare, technology
- Ajlan will partner with Malaysian companies such as SilTerra, Cybersecurity Malaysia, Aerodyne, NADI Corp., Malaysian Genomics Resource Centre Berhad, MYEVENTS International
Economy
Realty, banking blue chips continue to power UAE markets
Among other stocks, Emirates NBD, DEWA, and TECOM increased 0.74 percent, 0.77 percent and 1.25 percent respectively.
- Among other stocks, Emirates NBD, DEWA, and TECOM increased 0.74 percent, 0.77 percent and 1.25 percent respectively
- Driven by Emaar, Dubai General Index (DFMGI) advanced 0.79 percent to 3,463.5927.16 pts, with the property blue chip closing higher at AED4.80
Arts & Culture
Sharjah Chamber set to organise ‘Al Maleh and Fishing’ Festival
The Sharjah Chamber of Commerce and Industry (SCCI) has announced it will be organizing "Al Maleh and Fishing" Festival in...
- The SCCI added that all preparations are in place, and the festival is scheduled to begin on September 8, 2022, in Dibba Al Hisn City.
- The four-day event will involve the participation of several government entities and private sector companies.
Economy
Saudi bank loans to public and private sectors grow 14% by July end
Riyadh, Saudi Arabia - Saudi bank loans granted to public and private sectors grew 14 percent by the end of...
- The total loan granted by Saudi banks amounted to SAR 2.324 trillion ($620bn) by July end.
- Private-sector lending also increased by 14 percent year-on-year (YoY) to SAR 2.213 trillion ($590bn).
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Company News
Latest News
Dubai Customs, Japan seize drugs worth $310m from Tokyo port
DUBAI, UAE- Dubai Customs has assisted Japanese customs authorities in intercepting a significant quantity of illicit drugs. Up to 700...
Geostrategy
OFID, partners offer $60m loan to Tanzania for renewable energy
VIENNA, AUSTRIA - A new US$60 million loan by the OPEC Fund for International Development (OFID) and partners is expected...
Economy
Covid and Ukraine have badly hit UN sustainable goals progress
Geneva, Switzerland - United Nations Conference on Trade and Development (UNCTAD) said the COVID-19 pandemic, Ukraine crisis and the climate...
Economy
Most Read
Business
Vodafone, Microsoft ink pact
The two firms will offer AI Digital Contact Centre Platform.
- The MoU was signed by General Manager of Microsoft Lana Khalaf, and Enterprise Business Unit Director at Vodafone Qatar Mahday Saad Al Hebabi.
- With this platform, contact centers will be equipped with modern digital tools to engage customers across voice, video, and other digital channels.
Geostrategy
UAE discusses tourism with India, UK, Indonesia and Japan
NEW DELHI, INDIA - UAE Minister of Economy and Head of the Emirates Tourism Council Abdullah bin Touq Al Marri...
- The UAE is keen on developing tourism ties with countries and building partnerships in fields that supports economic, social growth and prosperity.
- The UAE had adopted a forward-looking vision to develop a distinguished tourism sector at the regional and global levels.
Geostrategy
Kuwait, UN sign MoU to enhance cooperation in counter terrorism
NEW YORK, US - Kuwait Ministry of Foreign Affairs and the United Nations signed a Memorandum of Understanding (MoU) aimed...
- A training program for Kuwaitis and the establishment of special workshops in the field of combating terrorism was discussed.
- The country has tried to strengthen global partnerships in combating terrorism, Kuwait's assistant minister said.